Investing in the right family medical insurance is the best way to do good for your family and keep them protected. However, these days you can find a plethora of options for choosing the best family health insurance. But, do not attract with false promises and lucrative offers. You have to be wise enough to pick the policy that suits your family’s healthcare needs and safeguard them financially during a medical emergency. Therefore, you must be extra careful when buying medical insurance for family and avoid these mistakes:
Avoid Lucrative Offers: As all the glitters are not the gold, similarly, all the lucrative offers are not beneficial. Healthcare needs vary from family to family, so opt for the family floater policy accordingly to reap its benefits.
Avoid Limited Coverage: Ensure that the family medical insurance includes in-patient hospitalization, pre & post-hospitalization, medication, diagnosis, OPD, AYUSH treatment, advanced surgeries, etc. Avoid buying the plan if it has limited coverage.
Do Not Overlook COVID: These days, leading brands like Care Health Insurance, HDFC Ergo, etc., offer cover for COVID-19 treatment and quarantine expenses. Look for medical insurance for a family that provides coronavirus treatment coverage along with other benefits.
Never Hide Medical History: If you want your family members to get a timely claim, never hide your family member’s past medical history. Disclosure of past medical conditions ensures your family members hassle-free claim settlement.
Do Not Ignore Pre-Existing Disease: Diabetes, hypertension, etc., are pre-existing diseases. If any of your family members have pre-existing conditions, opt for the plan that offers coverage for them too.
Avoid Low CSR: CSR is Claim Settlement Ratio that shows how good the health insurance company is in claim settlement. For quick claim settlement, opt for the company with a higher claim settlement ratio, like Care Health Insurance, which has 95.22% CSR. You can check for some more but avoid the companies with lower CSRs.
Avoid Finacial Overburden: Check the official websites of HDFC Ergo, ICICI Lombard, Care Health Insurance; you will get discounts up to 20% and an EMI option as well. It helps you to avoid overburdening your pocket.
Do Not Avoid Exclusions: These are the diseases, procedures, conditions, treatments that are not admissible under the policy. Opt for the plan with maximum coverage and minimal exclusions.
Never Skip Details: Do not make your decision in a hurry! Read the brochures, sales prospectus, customer reviews, and policy terms and conditions carefully. Getting yourself acquainted with the right information helps you to avoid chaos and ensure timely claim settlement.
Top Health Insurance Companies Offer Family Medical Insurance in India
You can check the below listed top companies offer medical insurance for family in India:
|Health Insurance Company
|Claim Settlement Ratio
|Care Health Insurance
|Max Bupa Health Insurance
Over to You!
A comprehensive family medical insurance acts as a safeguard and keeps you and your family at bay from the financial trauma that a medical emergency can give any time. So, try not to avoid these above mistakes if you want to make the most out of medical insurance.